Oil and Gasoline

News about oil and gasoline, including commentary and archival articles published in The New York Times.

Chronology of Coverage

Mar. 2, 2015

German utility RWE and Russian-controlled investment firm L1 Energy plan to complete deal for oil and gas subsidiary RWE Dea, in spite of objections by Britain. MORE

Feb. 26, 2015

Protests are gaining momentum in Algeria against pilot program to tap shale gas reserves; government views program as means of staving off budget crisis as oil prices fall, but protesters harbor environmental concerns related to fracking along with anticolonial resentments and sense that wealth from shale gas will not come to them. MORE

Feb. 21, 2015

Feb. 21, 2015

Editorial contends that explosion of train carrying crude oil in West Virginia serves as dire warning about ability of oil industry to ship its product from North Dakota oil fields; submits two important ways to improve safety are to impose tougher standards on tanker cars and to improve stability of oil; urges government and industry to improve safety quickly before explosion occurs in densely populated area. MORE

Feb. 19, 2015

Accidental explosion destroys section of a major refinery in Torrance, Calif owned by Exxon Mobil; experts say damage to refinery will probably contribute to higher gas prices in state. MORE

Feb. 18, 2015

Train carrying crude oil derails in southern West Virginia, setting off blasts, igniting conflagration and raising concerns about pollution of city's water supply; some local residents are ordered to evacuate, but no deaths or serious injuries are reported. MORE

Feb. 17, 2015

Filings with the Securities and Exchange Commission provide a partial snapshot of hedge funds’ holdings as of the end of the year. MORE

Feb. 17, 2015

CSX train carrying more than 100 tankers of crude oil derails in West Virginia 30 miles southeast of Charleston; at least 14 tankers are ignited, setting off a house fire. MORE

Feb. 16, 2015

North Dakota legislature attempts to settle on budget that will keep state solvent even if oil prices--and subsequent tax revenues--continue to drop. MORE

Feb. 13, 2015

Editorial urges Pres Obama to reject not only bill from Republicans demanding that he approve Keystone XL pipeline, but also pipeline itself; says latter decision, while more difficult to make, is correct one given tremendous environmental damage that pipeline could wreak; contends that saying no to pipeline would be tough and courageous move in battle against global warming. MORE

Feb. 11, 2015

Eduardo Porter Economic Scene column investigates how governments worldwide are pushing to incorporate bioenergy into transportation fuels, largely in hope of reducing dependency on fossil fuels; notes critics say plans are not genuinely carbon neutral, because dedicating forests and fields to biofuel production means they are not in turn available for food production, or to absorb carbon dioxide in atmosphere. MORE

Feb. 10, 2015

California oil and gas regulators release proposal sent to Environmental Protection Agency that would change how state protects underground water from oil and gas operations; proposal was crafted after state and federal review found 2,500 instances of state authorizing such operations in protected water aquifers. MORE

Feb. 10, 2015

Report commissioned by Independent Petroleum Association of America finds universities that divest their investments in fossil fuel stocks could imperil value of their endowments. MORE

Feb. 9, 2015

Sustained drop in oil prices has residents of Anchorage recalling mid-1980s downturn that occurred after Trans Alaska Pipeline shutdown; despite fact that city is now better positioned to weather drop in oil prices, due to greater diversification of its economy, collapse in the '80s remains as warning of worst that could happen. MORE

Feb. 4, 2015

Saudi Arabia is attempting to pressure Russian Pres Vladimir V Putin to drop his support of Syrian Pres Bashar al-Assad, presenting possibility of reducing its oil supply and therefore sending prices up; Russia would benefit from higher prices, as its oil-based economy is ailing (Series: By the Barrel). MORE

Feb. 4, 2015

Oil-producing nations in Africa, the Middle East and elsewhere are cutting longstanding domestic oil subsidies in light of greatly diminished oil prices; subsidies, amounting to more than $540 billion per year worldwide, are used as a political crutch and safety net for poor, though they hobble development and encourage waste. MORE

Feb. 3, 2015

Plan unveiled by Russian Pres Vladimir V Putin's government to address myriad problems facing country's economy as oil prices plummet has been almost universally dismissed as inadequate by economists; analysts and experts say government is likely trying to replicate its response to 2008 decline in oil prices, but many have questioned whether it has financial reserves to weather period of current low prices (Series: By the Barrel). MORE

Feb. 3, 2015

Venezuelan Pres Nicolas Maduro announces on television that he has ordered arrest of executives of Farmatodo drugstore chain, company that he has accused of fabricating shortages to sow discontent; country has been hard hit by drop in oil prices and shortages of many basic products have led to long lines at stores. MORE

Feb. 3, 2015

Canadian oil sands companies are trying to stem losses as crude prices drift near seven-year lows; big firms like Suncor and Shell Canada are cutting jobs, but new projects in industry will increase oil sands production by 25 percent, to 4.8 million barrels daily in 2015; biggest concern is whether companies can break even at current prices. MORE

Feb. 3, 2015

About 3,800 members of United Steelworkers union go on strike at nine refineries and chemical plants that process 10 percent of nation's gasoline, diesel heating oil and jet fuel; oil and gasoline prices are initially unaffected and remain low. MORE

Feb. 2, 2015

Scores of debt-laden oil companies face struggles that could lead to layoffs and losses for banks and investors. At the same time, new fortunes stand to be made. MORE

Feb. 1, 2015

Louisiana's economy has suffered blow as oil prices fall, though nature of oil industry there has led to slow decline rather than the precipitous drop affecting other states; slump, while gradual, is still expected to hurt Louisiana's state budget and job prospects. MORE

Jan. 31, 2015

Energy Dept sells Teapot Dome oil field in Wyoming to New York-based Stranded Oil Resources for $45.2 million. MORE

Jan. 31, 2015

Oil prices surge 8 percent after long slide, but energy experts caution against reading price spike as indicative of meaningful shift. MORE

Jan. 31, 2015

Chevron announces it is abandoning project in Poland to extract natural gas from shale rock and that its earnings in fourth quarter of 2014 fell to $3.5 billion, drop of almost 30 percent, which is attributed to lower prices; end of Polish shale project is ominous sign for fledgling European shale oil and gas industry. MORE

Jan. 30, 2015

Basic goods and services are in short supply in Venezuela, as country lacks currency due to plunging price of oil, its biggest export; government troops patrol long lines of people waiting for supplies, and stand ready to arrest those shoppers cheating rationing system; Venezuela was in deep recession even before oil prices collapsed (Series: By the Barrel). MORE

Jan. 30, 2015

Senate votes 62 to 36 on bill to force approval of Keystone XL oil pipeline; vote sets up new body's first major clash with Pres Obama, who is certain to exercise veto; increases pressure on Obama to make final decision on Keystone, which has been subject of five-year battle. MORE

Jan. 29, 2015

Sasol oil company announces that global drop in oil prices is prompting it to delay $14 billion plant in southwestern Louisiana that would have converted natural gas into diesel; project required combination of high oil prices and low natural gas prices in order to be viable; retrenchment is largest since oil prices have fallen and exemplifies how oil companies are reconsidering many long-term, ambitious projects. MORE

Jan. 28, 2015

Interior Dept plans to open up large area of Atlantic Seaboard to oil and gas drilling, in move lauded by the industries and condemned by environmentalists; decision is latest installment of five-year proposal for government to sell leases for oil and gas drilling in federal waters from 2017 to 2022; administration will ban drilling in parts of Arctic Ocean. MORE

Jan. 28, 2015

AAA motor club reports first daily rise national gasoline prices following 123 consecutive days of decline; average price rises to $2.04 per gallon, rate that remains $1.25 lower than it was one year earlier. MORE

Jan. 27, 2015

The Upshot; real price of gasoline remains significantly higher than it was in the 1990s despite plunge in prices, highlighting persistent wage slowdown and other economic factors; clean and alternative energy sources could help curb the effect of such oil price cycles on the United States economy, freeing disposable income for working Americans. MORE

Jan. 27, 2015

Pres Obama's proposal to ban energy exploration on 12 million acres of Arctic National Wildlife Refuge to be designated wilderness elicits angry and bitter reaction from Alaska residents and political leaders; Sen Lisa Murkowski of Alaska, chairwoman of Committee on Energy and Natural Resources, calls announcement 'a stunning attack on our sovereignty.' MORE

Jan. 27, 2015

Editorial welcomes proposal from Pres Obama to designate 1.5 million acres of Alaska's coastal plain as a permanent wilderness refuge; observes decision comes amid debate over whether to exploit area's vast oil reserve, argument that has been deflated by plummeting oil prices. MORE

Jan. 26, 2015

Global drop in energy prices has had historic impact on Alaska, which relies on taxes on oil companies to provide 90 percent of its budget; budget shortfall is particularly problematic as state collects no sales or income taxes. MORE

Jan. 26, 2015

Editorial criticizes leadership of Venezuelan Pres Nicolas Maduro, particularly his economic mismanagement as oil-exporting nation has grappled with collapse in the price of oil; observes that inflation rose by 64 percent in 2014, and that economy is slated to contract by some 7 percent in 2015; holds most troubling aspect has been Maduro's increasing push toward authoritarianism. MORE

Jan. 25, 2015

Op-Ed article by author Daniel Yergin describes sequence of events that has led to the United States becoming world's 'swing producer' of oil, after decades of Saudi Arabia occupying that role. MORE

Jan. 24, 2015

King Salman of Saudi Arabia moves to reassure global energy markets that he will continue policies of his predecessor King Abdullah and push other oil exporters to keep up high levels of oil production despite drop in global prices. MORE

Jan. 23, 2015

Iraqi Prime Min Haider al-Abadi says steep drop in oil prices is posing serious challenge to his government's efforts to push back Islamic State militants; asks Western allies, including United States, to provide military weapons and equipment on credit and defer payment until Iraq's economy is on more solid footing. MORE

Jan. 23, 2015

Authorities discover three-million-gallon saltwater leak caused by oil drilling near Blacktail Creek in North Dakota; are taking measures to prevent contaminated water from flowing into the Missouri River. MORE

Jan. 21, 2015

Eduardo Porter Economic Scene column examines causes behind plummeting oil prices, which have called into question future of OPEC nation economies; observes key factor is supply glut spurred on by fast rise in production of American shale oil; traces phenomenon to Nixon administration, which laid foundation for industrial policy that developed technology necessary for shale extraction over course of four decades. MORE

Jan. 21, 2015

BP presents arguments for reducing $13.7 billion in potential fines as next phase begins in trial over 2010 Gulf of Mexico oil spill; contends that ecosystem has not collapsed, citing its mitigation efforts, and argues that fines should take into account company's ability to pay amid collapse in oil prices. MORE

Jan. 21, 2015

BHP Billiton announces plan to cut spending on shale drilling, citing losses from across-the-board price drop for commodities in later half of 2014; mining company's move is in keeping with broad retrenchment across the industry. MORE

Jan. 20, 2015

Plummeting oil prices have cast pall over gleeful mood in Midland, Texas, and elsewhere in state's oil belt; companies are scaling back projects and announcing layoffs; residents, long accustomed to cycles of boom and bust, are rolling out alternative plans to earn side income and save money. MORE

Jan. 18, 2015

American working-class families and retirees are substantially benefiting from falling oil prices, with typical household saving $750 in 2016 due to lower gasoline prices; people who use home heating oil and propane will save an additional $750 over winter; oil prices are especially crucial for Maine residents, where two-thirds of population rely on heating oil. MORE

March 2, 2015, Monday

The completion of the deal has been slowed by regulators’ concerns that Mikhail Fridman or his company might be targeted by expanded sanctions on the Russian energy industry stemming from the Ukraine conflict.

Multimedia

In 2006, Saudi Arabia was by far the largest producer of oil, followed by Russia and United States. On average, the United States consumed 20.6 million barrels per day, which made it the largest oil consumer in the world.